WhatsApp Launches Payments
In June 15th, WhatsApp announced they had launched digital payments to WhatsApp for users in Brazil. People will be able to send money securely or make a purchase from a local business without leaving their chat.
WhatsApp says in its blog post that the payments service, which currently is free for consumers to use and with businesses paying a 3.99% processing fee to receive payments. Security will be provided with a six-digit PIN or fingerprint to complete transactions.
To use WhatsApp payments users link their Visa or Mastercard credit or debit card, with initial local partners including Banco do Brasil, Nubank and Sicredi. Cielo, a payments processor, is also working with WhatsApp to complete transactions. “We have built an open model to welcome more partners in the future,” it noted. WhatsApp had been testing its payments service among users in India for months, so many assumed that the world’s second largest internet market would be the debut region for the service.
WhatsApp explained "payments on WhatsApp are beginning to roll out to people across Brazil beginning today and we look forward to bringing it to everyone as we go forward."